Wichita eagle. [volume] (Wichita, Kan.) 1886-1890, 1887-12-31
THE CLOSING OF A SUCCESSFUL
YEAR.
Money Generally Easier and Collec-
lions Reported Good from all
Points ! i'm the West.
The Iron Industry Rapidly Cutting Down
Production and Prices, After
Big Years Business.
A Decrease of 200 in the Years Failures
-0ne Out of Every Eleven
Business Men Failed.


their weekly review of trades, say: y year
of enormous business closed with little
more than the seasOnable dizziness. Trans
actions much beyond the average in Sep
TENDER and October prepared for some
slackening of trade in November and De
cember. which has been increased by tariff
uncertainties, by several strikes of impor-
lance. and by a speculative advance in
prices,
Unusual pressure for money during the
fall, on the other hand caused adjustments
which prevents even pressure as the
year closes, and except at few
western points the money markes
are comparatively easy, with collections
almost everywhere fair, and at almost all
points reasonably good. The holiday trade
has generally been large and the recent
change in weather brings greater activity
in some branches. But the pending strikes
and controversies about wages aud uncer-
tainty as to the future income of the larg-
est industries operate unfayorably. Ease
of money and belief that the Reading
strike would not last have helped stocks to
improve until today. when the day opened
with some reaction Hopes of activity
and advance after New Years sustain
prices, but the great movement of foreign
capital htherward for investment has
ceased, at least for the time. In Novem-
Der trade statistics indicate that the out
going slightly exceeded the incoming
goods and capital.
December exports at New York are 12
per cent be CIV last year ). gainst imports
IL per cent below indicate that at least
Sl5,0 coo in goods and cash have probably
gone abroad, and foreign sales have eX-
ceeded purchases of securities. II CON
tinued this movement Will affect the
placing of securities for new roads and
thus influence great industries.
The dying year has seen 1924 miles of
railway finished, making the mileage for
the United States 80, 40. bat changes of
freight rates at the west tend steadily
r. downward lessening the prospect for
building mex year. The PENNSYLVANIA
reports decrease of $4,000 in net earn
ings for November, and the Erie decrease
of S2i 223}
The iron industry, after the largest years
output on record is rapidly cutting down
productions, prices and at many points.
wages. Since March the average of all
III.
aud of rails So Sales of 10000 tons of
Alabama and Tennessee iron are reported,
but no sales of rails, for which next years
orders cover only 100000 tons. The west
ern nail ASSOCIATION lowers card rates from
g.. - to 8.
The cotton industry records for the year
larger productions, sales and profits than
for 1886 and the year closes with an excel
lent demand, stocks well cleaned up and
many makes sold well ahead. But the
wooden manufacturers are described as
having V6ut the most unsatisfactory year
il has ever experienced, with
business smaller and profits smaller than
left a large stock of dress goods on hand.
Overcoatings are moving fairly but fine
goods al ) TO 10 per cent decline.
The coal production has been the largest
on record, but the market closes with
some excitement the Lehigh strike con
tinuing while dispatches affirm that the
Reading miners Will strike January l.
The grocery trade has been very large for
the year and closes with fair activity. not
understanding the speculation in coffee and
the rise in sugar. following reports of
decrease of 362. 600 tons in the beet pro luct
Provisions hold the recent advan e, be
ing a shade dearer and there has been a
rise of cents III oil.
Cotton, III spite Of small receipts is a
shade lower but breadstuffs have risen
wheat and corn about cent each.
The treasury has added S1l4 900 to its de-
posits with banks and 81 900. 600 to the cir
Culation during the week It has now in
creased the circulation of coin and paper
about IL .00003O since July |. and sl30. COO
900 since June |, 1856 The incomplete re
turns of clearing house exchanges indicate
an aggregate of for the year exceeding S5l.-
oo0O0O,oOO, with a gain of about per cent
over last year, but November showed
small decrease and in December the de
crease in payment has been considerable
The years failures show decrease of
two hundred in number. hut n large in
crease of S53.000000 III liabilities. as fol-
lows: During 1887 the number was 964S.
and liabilities Sl67 $50 944: average. 81. 39I
During 1856 the number was 9,3S4 and liza
bllities 4.6H. ll9; average. 81 ,65l
The returns for the Dominion of Canada
show .3S2 failures, with Sl6.3i1 .145 IahiH-
ties, an average of Sll SOB. The failures in
the dominion were one in every fftv-four
persons in business. In the United States
they averaged one in every eleven persons
engaged in business.